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BOARD STATEMENT: 15th OCTOBER

PUBLISHED

17:15 15th October 2013

In a scheduled Board meeting, the Board of Directors of Cardiff City Football Club met yesterday, 14th October 2013. The Manager, Malky Mackay, was present by invitation as will be the case for all future board meetings.

All aspects and matters relating to the present and the future of the Club were fully discussed. In order for the Club to grow and sustain its ability to be a competitive force in the Premier League, the Board has made a number of decisions which will strengthen the Club, support the Executive team, Manager and his staff and enhance shareholder return. Needless to say, the Board discussed the events of the last two weeks in detail.

The following resolutions were made:-

1.The Board will be restructured with immediate effect to include the following committees:

a.The Nomination and Corporate Governance Committee chaired by Mehmet Dalman. Its main responsibilities will be:

·to support the Manager, Malky Mackay, on all player purchases and sales. All transfer dealings will be conducted subject to the Manager's final approval.

·to establish clear Corporate Governance procedures across the Club.

b.An Audit Committee, chaired by Michael Filiou. Its main responsibility will be:

·to review and make recommendations to strengthen the internal financial controls within the Club and benchmark the Club’s financials.

c.Health & Safety Committee, chaired by Steve Borley. Its main responsibility will be:

·to enhance the Club’s operations to the highest standards in health & safety.

d.Special Committee for the expansion of Cardiff City Stadium – chaired by Steve Borley to oversee current East Stand expansion plans.

2.Tan Sri Vincent Tan has agreed to write off interest of approximately £5.8 million on previous loans made to the Club and stated that all future loans up to an aggregate value of £50 million will also be interest free.

3.The Board ratified the appointments of Mehmet Dalman as director and Chairman of the Board, Michael Filiou as non-executive director, and Amir Fitzhugh as Company Secretary. The Board ratified the resignation of Mr Len Win Kong as a director of the Club.

The Board believes that these changes establish a solid foundation for the Club to grow. The changes were unanimously agreed by the entire Board and the Manager, Malky Mackay. Tan Sri Vincent Tan and the shareholding members of the Board are fully in agreement with the above decisions. The shareholders, Board and Manager are fully committed to the long-term success of Cardiff City Football Club.

Once again the Board thanks Tan Sri Vincent Tan for writing off the interest on his loans to Cardiff City FC, further demonstrating his generosity and support of this Club.